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Non Fungible Token

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Non Fungible Token


Pranav Khandle | Sankalp Murudkar



Pranav Khandle | Sankalp Murudkar "Non Fungible Token" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-6 | Issue-4, June 2022, pp.302-310, URL: https://www.ijtsrd.com/papers/ijtsrd49969.pdf

An NFT is a digital asset that represents real-world objects like art, music, in-game items and videos. They are bought and sold online, frequently with cryptocurrency, and they are generally encoded with the same underlying software as many cryptos. Unlike cryptocurrencies, they cannot be traded or exchanged at equivalency. This differs from fungible tokens like cryptocurrencies, which are identical to each other and, therefore, can be used as a medium for commercial transactions. Types of NFT data units may be associated with digital files such as photos, videos, and audio each token is uniquely identifiable, NFTs differ from blockchain cryptocurrencies, such as Bitcoin. In this paper, we aim to simplify the journey for anyone looking to understand this new technology by providing them a thorough overview which includes investigating the history of NFT, what brings it value, the technical details, the challenges it faces, the use cases, security, risks, NFT Marketplace and Vulnerability of the new digital asset world of NFT.

Non Fungible Token, Etherium, Money Laundering, NFT, ERC 1155, ERC 721


IJTSRD49969
Volume-6 | Issue-4, June 2022
302-310
IJTSRD | www.ijtsrd.com | E-ISSN 2456-6470
Copyright © 2019 by author(s) and International Journal of Trend in Scientific Research and Development Journal. This is an Open Access article distributed under the terms of the Creative Commons Attribution License (CC BY 4.0) (http://creativecommons.org/licenses/by/4.0)

International Journal of Trend in Scientific Research and Development - IJTSRD having online ISSN 2456-6470. IJTSRD is a leading Open Access, Peer-Reviewed International Journal which provides rapid publication of your research articles and aims to promote the theory and practice along with knowledge sharing between researchers, developers, engineers, students, and practitioners working in and around the world in many areas like Sciences, Technology, Innovation, Engineering, Agriculture, Management and many more and it is recommended by all Universities, review articles and short communications in all subjects. IJTSRD running an International Journal who are proving quality publication of peer reviewed and refereed international journals from diverse fields that emphasizes new research, development and their applications. IJTSRD provides an online access to exchange your research work, technical notes & surveying results among professionals throughout the world in e-journals. IJTSRD is a fastest growing and dynamic professional organization. The aim of this organization is to provide access not only to world class research resources, but through its professionals aim to bring in a significant transformation in the real of open access journals and online publishing.

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